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FrançaisA letter of credit that contains a guarantee on the part of both the issuing and de advising banks of payment to the seller so long as the seller´s documentation is in order and the terms of the letter of…
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A financial service in which an independent company confirms an export order in the seller´s country and makes payment for the goods in the currency of that country. Among the items eligible for confirmation are not only the goods but…
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In a letter of credit transaction, the bank that assumes responsibility to the seller (usually the exporter) for payment from the issuing bank (buyer´s bank) so long as the terms and conditions of the letter of credit have been met…
Read MoreConfirming house
A trading company that represents the interests of foreign buyers. Confirming houses typically negotiate purchases on behalf of their overseas principals, place their domestic orders in the suppliers´countries, arrange for export handling and transportation to the buyer, and locally pay…
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